Overview of Vietnam First-Class Bank (VFC Bank).
TABLE OF CONTENTS .0 INTRODUCTION 2 2.0 OVERVIEW OF VIETNAM FIRST-CLASS BANK (VFC BANK) 3 3.0 DETAILS OF COMPETITORS 5 3.1 ANZ BANK VIETNAM 5 3.2 ASIA COMMERCIAL BANK (ACB) 7 4.0 B2B E-COMMERCE STRATEGY FOR VFCB 9 4.1 SWOT ANALYSIS 9 4.2 RECOMMEDATION OF E-COMMERCE STRATEGY 13 4.3 CRITICAL SUCCESS FACTORS OF THE EC STRATEGY 17 4.4 RETURN ON INVESTMENT & DETAILS 18 4.5 WHY XML COMMUNICATION STRATEGY 19 5.0 TECHNIQUES OF DATA INTERCHANGE 27 5.1 EDI 27 5.2 XML 29 6.0 IMPLEMENTATION 30 6.1 THE PROPOSED E-COMMERCE SYSTEM 30 6.2 RISK MANAGEMENT FOR VFCB 32 6.3 TIME FRAME 33 6.4 SECURITY 33 7.0 CONCLUSION..................................................................................35 REFERENCES ........................................................................................36 .0 INTRODUCTION Vietnam has experienced more than one decade of high growth rate and it is estimated to be the second highest GDP growth country this year (?7.3%), just after China (8.5%) (source: www.adb.org). Vietnam has recently implemented the AFTA agreement and it will join WTO in the next several years. Together with this integration and globalization trend, e-commerce now is becoming a hot issue for all business organizations and economic forums in the country. As its nature, banking industry is always the first mover to pave the way for other industries to go ahead
Analysis of Northrop Grumman's Takeover of TRW
Table of Contents Section Page .0 Executive Summary 2 2.0 Introduction 3 2.1 Timeline of events 3 2.2 Company Description 4 2.21 TRW Inc. 4 2.22 Northrop Grumman 4 3.0 U.S Aerospace & Defence -The sector explored 4-5 3.1 Big Players 5-6 4.0 Northrop's motives 6 4.1 Good fit or fake jewels? 6-7 4.2 Buying TRW: How and how much? 7 5.0 TRW's motives 7 5.1 Defending the company 7 5.2 Defence tactics, successful? 7-8 6.0 Share price performance 8 6.1 Comparing Share Price Performance Of The Target & Acquirer 8 6.2 Comparing Against The Market and The Sector 9 7.0 Corporate governance issues 9 8.0 Assessing The Takeover - Increases In Market Share 10 8.1 Assessing The Takeover - The Real Bid Premium 10 8.2 Assessing The Takeover - Financial Ratios 11 8.21 P/E Ratio 11 8.22 EPS 11 8.23 Return On Net Assets 11 8.24 Gearing 11-12 8.25 Current Ratio 12 8.3 Assessing The Takeover - Long Term Market Comparison 12 8.4 So, Good fit or fake jewels? 12 9.0 Academic theory 13 0.0 Bibliography 14 .0 Executive Summary The takeover of TRW Inc. by Northrop Grumman Corp. is an interesting example of a hostile takeover of two similar companies in
Marketing planning - HSBC Holdings plc
UNIT 5 COURSEWORK ASSIGNMENT: MARKETING PLANNING DAN PHILLIPS Section 1 - Background Introduction - Introduction Headquartered in London, HSBC Holdings plc is one of the largest banking and financial services organizations in the world. HSBC has an international network comprising of over 9,500 offices in 80 countries and territories in Europe, the Asia-Pacific region, the Americas, the Middle East and Africa. Around 190,000 shareholders in some 100 countries and territories, have shares in the company. HSBC provides banking not only for individuals but also largely for businesses. Through an international network linked by advanced technology, including a rapidly growing e-commerce capability, HSBC provides a comprehensive range of financial services: personal financial services; commercial banking; corporate, investment banking and markets; private banking; and other activities. One of HSBC's fastest growing services is their e-banking. This involves encouraging customers to complete their transactions on the internet instead of through a bank and bankers directly. This is the service which I am going to look into. HSBC own First Direct which specializes in Online and telephone banking, boosting the market dominance and market share of HSBC. As well as First Direct, HSBC also own a number of smaller banking businesses which include HFC. HSBC have many objectives as
Business Finance
.1 Introduction A lot of people may think that business finance and accounting is the same thing but in actual fact, they are not the same. Accounting is involved with financial record keeping, the production of periodic reports, statements and analyses, and the dissemination of information to managers and, to some extent, to investors and the world outside the firm. Whereas, business finance acts like an investment agencies or intermediaries to manage investments by relying heavily on accounting reports and accounting database generally, i.e. to do all those things necessary to create and sell the goods and services in the provision of which the firm is engaged in. .2 Objective of the company What company is seeking to achieve is of course maximization of profits. Since shareholders are the owners of a corporation and they purchase stocks because they want to earn a good return on their investment without undue risk exposure. In most cases, shareholders elect directors who then, hire managers to run the company. Although the managers cannot affect the interest rate, they can increase the market value of each shareholder's stake in the company as they represented the shareholders. In order to achieve the goal of maximizing shareholder wealth, managers will have to adjust the goal of profit maximisation in order to deal with the complexities in a real-world environment
Perfect competition arises when there are many sellers, each selling an identical product, and they should be of equal size. Also there are many buyers; there are no restrictions on entry and exit.
Perfect competition arises when there are many sellers, each selling an identical product, and they should be of equal size. Also there are many buyers; there are no restrictions on entry and exit. No individual firm can influence the price at which it sells its output. Firms are said to be price takers. Price maker is the market. Coffee growing has many of the characteristics of a perfectly competitive market. Coffee is the second largest export commodity in the world after oil and is exported from 52 countries in the south. From 1990s coffee industry has been transformed from a managed market, in which governments played an active role both nationally and internationally, to a free-market system, in which anyone can participate and in which the market itself sets the coffee price. There are large numbers of producers and their productions are almost identical. The world production of coffee has risen dramatically in the past three years mainly due to the production increase in the two world leading countries Brazil and Vietnam, Vietnam has for example increased production by 1400 % between 1990 and 2000, and Brazil has contributed even more than Vietnam to the global oversupply during the past five years. Both countries also have large numbers of trees in development, which will lead to an overproduction for at least the next 2-4 years. The total world production of
Corporate Treasury Management
MICHELLE GRANT CORPORATE TREASURY MANAGEMENT ASSIGNMENT ELEMENT 2 WORD COUNT: 2752 EXCLUDING BIBLIOGRAPHY & REFERENCES, APPENDICIES AND TABLE OF CONTENTS. TABLE OF CONTENTS: TABLE OF CONTENTS: 2 ) IDENTIFICATION AND JUSTIFICATION OF POSSIBLE KEY BENCHMARKS WHICH COULD BE USED TO MEASURE THE PERFORMANCE OF TESCO PLC 3 IDENTIFICATION AND EVALUATION OF KEY BENCHMARKS: 4 2) A) A REPORT ON THE IMPLICATIONS OF POSSIBLE PENSION LIABILITIES FOR COMPANIES: 5 2) B) IDENTIFICATION AND EVALUATION OF RELEVANT PROCEDURES FOR CONTROLLING THE TREASURY FUNCTION TO MITIGATE THE DANGER OF FRAUD OR HUMAN ERROR: 6 APPENDIX 1 9 NOTES TO TESCO PLC ANNUAL REPORTS AND ACCOUNTS: 9 APPENDIX 2 12 TESCO'S INTERNAL EMPLOYEE PENSION LITERATURE: 12 BIBLIOGRAPHY & REFERENCES 13 ) IDENTIFICATION AND JUSTIFICATION OF POSSIBLE KEY BENCHMARKS WHICH COULD BE USED TO MEASURE THE PERFORMANCE OF TESCO PLC My chosen company is Tesco Plc; their annual accounts say they operate on a non-profit centre basis. This means they actually use either cost centre or value-added treasury, they also adopted a hedge selectively policy and to use transaction banking rather than relationship banking. There is a general rule of thumb - hedge selectively means profit centre and hedge everything means cost centre. Tesco use a hedge selectively policy and also state in their annual report and accounts they do not
Queens Moat Houses: Lessons in corporate governance
Queens Moat Houses: Lessons in corporate governance Eleven years after Queens Moat Houses PLC spectacularly collapsed, the DTI's inspectors finally published their 500-page report earlier this year. In some ways, the story contains many familiar elements: a dominant chief executive; compliant lieutenants; the adoption of ever more aggressive accounting policies to generate 'profits'; auditors who lacked independence and experience; and ineffective non-executives. But in other respects there are wider lessons to be learned, and the recommendations made by the inspectors may have a bearing on the next Companies Bill. Generally this article reflects the substance and tone of the Report. In some places, direct quotations are given. Where additional comments are made, these are in italics. Background Queens Moat Houses PLC ("QMH") grew, over a period of some 20 years, from being a small, owner-managed group with a handful of hotels, to a large listed group with 190 hotels in the UK and overseas. At its peak, in 1990, the Group had a market capitalisation in excess of £900m. Throughout the period of its growth, QMH was portrayed as a successful, profitable and well-managed group. That image was created and sustained by its reporting of increased profits, on the basis of which it raised very significant amounts of finance, in the form of both share capital and borrowings,
Supply and Demand Simulation Paper
Supply and Demand Simulation Paper The purpose of this paper is to understand the relationship between supply and demand within the context of a particular economy. Through the use of the Supply and Demand Simulation (https://mycampus.phoenix.edu/secure/resource/vendors/tata/UBAMsims/ economics1/economics1_supply_demand_simulation.html), we see the role that price plays in helping balance supply and demand, and also see scenarios where price can actually create a lack of balance, in the case of price ceilings for example. Supply and Demand - Key Concepts Before we study the effect of supply and demand within an economy, it is important to define certain key concepts that will facilitate the understanding of how these interact with each other, and the role pricing plays in this relationship. * Invisible hand theory: states that "a market economy, through the price mechanism, will tend to allocate resources efficiently" (Colander, 2004, p. 12). Therefore, assuming all else remains constant, quantity demanded falls as prices increase and quantity supplied falls as prices decrease (Colander, 2004) * "Equilibrium price is the price toward which the invisible hand drives the market. At the equilibrium price, quantity demanded equals quantity supplied" (Colander, 2004, p. 96). * Demand vs. quantity demanded: demand refers to how much of a certain good or service will be
Financial Modeling for a Brewpub
William Fox Bus 603 9/26/04 Financial Modeling for a Brewpub . What were potential investors and financial institutions concerned with when asking the questions in the case? Like all good capitalists, the investors and financial institutions in this case are concerned with the potential of recouping their initial investment in the Roseville Brewing Company and making a healthy profit. Their first question concerned the break-even point. This is the point at which revenue equals expenses and net income is zero. By asking for the break-even point, the potential investors are attempting to determine the strength of RBC's business model and the point at which they will make a profit. Making a profit is essential for both RBS to remain in business and for the potential investors to recoup their initial investment and make a profit themselves. Asking the sales dollars required to generate $200,000 and $500,000 centers upon the projected net income of RBC. This question allows the potential investors to gauge the entrepreneur's understanding of fixed and variable costs and their relation to net income. Knowing how net income reacts to differing sales levels gives some insight into the fixed and variable cost structures of the financial model. By asking if the product mix is reasonable, the potential investors are focusing on contribution margins. Since beer tends to
Factoring services.
. INTRODUCTION Selling your export accounts receivable can enhance your global competitiveness and can help you better manage your cash flow. This can be accomplished through the use of factoring houses. When you use a factoring house (factor), you will end up with a stronger balance sheet as outstanding receivables are reduced and cash is accelerated. Factors also remove some or all of the risk associated with collection. At the same time, each enables you to offer your foreign customer terms that are longer in duration than those you could normally afford to offer. Export factoring is the discounting of your export accounts receivable that do not involve a bill of exchange (draft). Factoring allows you to ship on "open account," by which goods are shipped without guarantee of payment (that is, a letter of credit). The factoring house assumes financial ability of the customer to pay and handles collections on the receivables. Because of this, you wouldn't necessarily involve a factoring house until after you've quoted your customer a price. However, when developing your quote, keep in mind that the factoring house will discount at least 2-7% off of the face value of your export receivables. The discount could be higher than that if you select a non-recourse transaction. So when quoting your customers, incorporate this factoring discount into your price. As a